Saturday, November 14, 2009

Goldman Short Gold Stocks and Bank Stocks

Goldman Sachs is out with their updated 13F which details its huge $180 billion portfolio. The 13F is as of September 3o, 2009, so it is possible Goldman could have traded out of any of its positions. But as of that date, Goldman had huge net negative positions, i.e. short the stocks, holding puts, etc., in Agnico Eagle Mines ($164 million), Barrick Gold ($37 million), Wells Fargo ($290 million), PNC ($202 million) and Mastercard ($267 million). Also on Exxon-Mobil ($29 million). These positions were all in their top ten negative positions.

Their top net positive positions included Philip Morris ($557 million) and JP Morgan ($357 million). They also own close to a $ 1 billion worth of Apple stock at GS Asset Management.

Clearly, with Goldman being net negative gold stocks, oil stocks, major banks and Mastercard. They aren't expecting the rebound in the economy to last. But, they sure do expect the power players to do ok, with net positive positions in Philip Morris and JP Morgan.

They also hold various net positive and net negative index securities and ETF's, with what appears to be a strong positive market bias, which means while ready for the crash of gold, Mastercard and the banks, they have been doing quite nicely during the current stock market rally.


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